Axie Infinity Developer Sky Mavis to Reimburse Victims of Ronin Bridge Hack
Sky Mavis, the developer of play-to-earn game Axie-Infinity, will reimburse victims of the $620 million Ronin bridge hack.
30% of total supply
Jump start your portfolio with free crypto after you sign up. Terms apply.
AXS is an Ethereum token that powers Axie Infinity, a blockchain-based game where players can battle, collect, and build a digital kingdom for their pets. AXS holders can claim rewards for staking their tokens, playing the game, and participating in key governance votes.
Axie Infinity is a crypto-meets-Pokémon game in which players raise, battle, and trade cute NFT pets called Axies. It features two native cryptocurrencies: Axie Infinity Shards (AXS), which can be bought and sold on exchanges like Coinbase, and Small Love Potion (SLP), which is awarded to players for spending time in the game.
Vietnamese developer Sky Mavis launched Axie Infinity in 2018. As of August 2021, the game had around 1 million daily players, and in the summer of 2021, Axie Infinity became the biggest crypto app on the Ethereum blockchain.
Axie Infinity revolves around breeding, raising, and battling cute creatures called Axies. Axies and virtual real estate are sold via an in-game marketplace in the form of NFTs. Most transactions happen on a speedy, bespoke sidechain called Ronin, which developer Sky Mavis designed to have lower fees than the main Ethereum blockchain.
To play, you’ll need an Ethereum-compatible crypto wallet and some ETH. You can buy some ETH from an exchange like Coinbase and send it to Coinbase Wallet (which is separate from the main Coinbase app; you can download it via Apple’s App Store or Google Play) or Metamask. (You can also download this Chrome extension to connect Coinbase Wallet to a web browser if you’d rather play on a computer.)
To start playing, you need to buy at least three Axies from the game’s marketplace. Sky Mavis takes a 4.25% cut of all the Axies, virtual real-estate, and other items users sell each other. “Rare” Axies with desirable traits cost more.
Players can also “breed” new Axies, which costs some of the game’s two native cryptocurrencies: Axie Infinity Shards (AXS) and Small Love Potion (SLP).
You can earn SLP by successfully battling other players and completing quests.
Axie Infinity describes itself as a “play to earn” game, where players can sell items (including the Axies they breed, in-game real estate, and accessories like flowers or barrels) via the game’s NFT marketplace while also collecting tokens the game generates. There are two special cryptocurrencies used in the game:
The main token, Axie Infinity Shards (AXS), can be bought and sold on exchanges like Coinbase. You need some AXS to play the game, but you can also trade AXS like Bitcoin or Dogecoin or any other major crypto. AXS will also serve as a governance token, which allows holders to have a say in the future of the game.
A second token, called Small Love Potion (SLP), is awarded to players for spending time in the game. You can win some for beating an opponent’s Axie or for completing in-game quests. The more you play, the more SLP you can rack up. (While this asset is not currently available on Coinbase, you can buy and sell SLP via DEXs like Uniswap or SushiSwap.)
You can buy and sell AXS via exchanges like Coinbase. SLP, in contrast, can be earned in-game, and used to breed Axie.
The price of Axie Infinity has risen by 35.88% in the past 7 days. The price declined by 3.68% in the last 24 hours. In just the past hour, the price shrunk by 0.66%. The current price is $17.135 per AXS. Axie Infinity is 89.64% below the all time high of $165.37.
The current circulating supply is 82,093,030.398 AXS.
Axie Infinity was mentioned in 4,834 out of 1,768,251 social media posts on Twitter and Reddit on Jun 24, 2022. 3,910 unique individuals are talking about Axie Infinity and it is ranked #30 in most mentions and activity from collected posts.
Powered by LunarCrush
A selection of cryptocurrencies in the top 50 by market cap.
Of all the assets on Coinbase, these 8 are the closest to Axie Infinity in market cap.